Petronas and PetroVietnam Sign $737M FPSO Lease Contract at Lam Son

KUALA LUMPUR–Yinson Holdings Bhd. (7293.KU) has received a $737.3 million contract to lease a floating production, storage and offloading facility to the Lam Son offshore project in Vietnam, a company statement said Monday.

The floating production facility is expected to be delivered next year and revenue contribution from this project will be “positive” from January 2015, the statement said.

Lam Son is a 50-50 joint venture between Malaysia’s Petroliam Nasional Bhd. and PetroVietnam Oil and Gas Group.

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